Relaxo Footwears rose 1.35% to Rs 760.95 at 12:02 IST on BSE after credit ratings company ICRA upgraded the company's long term rating.
The announcement was made after market hours yesterday, 14 January 2019.Meanwhile, the S&P BSE Sensex was up 337.93 points, or 0.94% to 36,191.49.
On the BSE, 1482 shares were traded in the counter so far compared with average daily volumes of 468 shares in the past two weeks. The stock had hit a high of Rs 763.20 and a low of Rs 756.75 so far during the day. The stock hit a 52-week high of Rs 874 on 1 August 2018. The stock hit a 52-week low of Rs 550 on 6 February 2018.
Relaxo Footwears announced that ICRA vide their letter dated 14 January 2019 has upgraded long term rating to [ICRA] AA (pronounced as ICRA double A) with Stable Outlook from [ICRA] AA- (pronounced as ICRA double A minus) with positive outlook for enhanced limit of Rs 189.71 crore of term loans and fund based facilities of the company.
Net profit of Relaxo Footwears rose 23% to Rs 39.46 crore on 18.56% rise in net sales to Rs 545.19 crore in Q2 September 2018 over Q2 September 2017.
Relaxo Footwears is one of the leading and most popular footwear companies in India.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
